CoinTelegraph reported that an increasing number of UK crypto investors are encountering blocked or delayed account funding by banks, raising concerns about the country’s digital asset competitiveness.
According to CoinTelegraph, UK banks are increasingly restricting or halting payments to crypto exchanges, despite the legality and regulation of crypto trading in the country. This situation persists even for retail investors using exchanges registered under the Financial Conduct Authority (FCA), which mandates digital asset firms to comply with Anti-Money Laundering (AML) obligations. CoinTelegraph notes that institutions like NatWest and Chase UK have imposed broad restrictions on crypto transactions, often citing fraud prevention. However, critics argue that such actions reflect overregulation, stifling innovation and user access.
A press release from IG Group, cited by CoinTelegraph, reveals that 40% of surveyed UK crypto investors reported their bank had either blocked or delayed a payment to a crypto provider. Among those affected, 29% said they filed complaints with their financial institution in an attempt to challenge or reverse the action. Additionally, 35% of those impacted chose to switch banks entirely—indicating that institutional resistance to crypto is actively reshaping consumer loyalty and behavior.
The same IG Group survey, as reported by CoinTelegraph, found a split in public attitudes regarding banking intervention in crypto transactions. Of 2,000 UK adults surveyed, 42% opposed banks stepping in to block or delay crypto-related payments, while 33% supported such measures. The disparity suggests a significant portion of the public views these banking actions as overreach and potentially inconsistent with consumer interests in open financial access.
According to its official website, CoinTelegraph is a global digital media outlet covering cryptocurrency, blockchain, and fintech developments across major markets. The publication is known for delivering real-time news, market analysis, and expert commentary to both retail and institutional readers. With regional editions in multiple languages, CoinTelegraph plays a central role in informing global stakeholders on regulatory trends, innovation, and industry disruptions.
